Peoples Utah Bancorp (NASDAQ:PUB) Raised to “Hold” at Zacks Investment Research

Zacks Investment Research upgraded shares of Peoples Utah Bancorp (NASDAQ:PUB) from a sell rating to a hold rating in a report published on Friday morning, Zacks.com reports.

According to Zacks, “People’s Utah Bancorp is a bank holding company which provides banking products and services primarily in the United States. It offers deposit services, commercial, personal and mortgage loans, mobile and Internet banking services; automatic teller machine services as well as business cash management services. The company serves businesses, professional firms, real estate developers, residential home builders, high net-worth individuals, investors and other customers. People’s Utah Bancorp is headquartered in American Fork, Utah. “

Several other brokerages have also recently issued reports on PUB. ValuEngine cut shares of Zuora from a buy rating to a hold rating in a research report on Saturday, June 1st. FIG Partners reiterated an outperform rating on shares of Sterling Bancorp in a research note on Monday, April 29th. Sandler O’Neill upgraded shares of Peoples Utah Bancorp from a hold rating to a buy rating in a research note on Thursday, March 28th. Finally, BidaskClub upgraded shares of Winmark from a sell rating to a hold rating in a research note on Tuesday, May 14th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and a consensus price target of $32.00.

Shares of PUB opened at $28.50 on Friday. The firm has a market capitalization of $539.37 million, a PE ratio of 13.32, a PEG ratio of 1.58 and a beta of 0.63. Peoples Utah Bancorp has a 1 year low of $25.18 and a 1 year high of $36.85. The stock’s 50-day simple moving average is $29.16.

Peoples Utah Bancorp (NASDAQ:PUB) last issued its quarterly earnings results on Thursday, April 25th. The bank reported $0.55 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.55. The business had revenue of $30.24 million for the quarter, compared to analysts’ expectations of $30.94 million. Peoples Utah Bancorp had a net margin of 31.96% and a return on equity of 14.62%. On average, sell-side analysts predict that Peoples Utah Bancorp will post 2.27 earnings per share for the current fiscal year.

In other Peoples Utah Bancorp news, Director Jr. Fred W. Fairclough sold 1,375 shares of the stock in a transaction that occurred on Wednesday, April 24th. The shares were sold at an average price of $27.95, for a total value of $38,431.25. The sale was disclosed in a document filed with the SEC, which is available through this link. Insiders sold 17,875 shares of company stock worth $517,344 over the last quarter. 17.34% of the stock is currently owned by insiders.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Dimensional Fund Advisors LP grew its position in shares of Peoples Utah Bancorp by 5.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 409,325 shares of the bank’s stock worth $12,341,000 after acquiring an additional 21,376 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Peoples Utah Bancorp by 4.8% during the fourth quarter. Geode Capital Management LLC now owns 178,015 shares of the bank’s stock worth $5,367,000 after acquiring an additional 8,083 shares during the last quarter. Bank of New York Mellon Corp grew its position in shares of Peoples Utah Bancorp by 5.8% during the fourth quarter. Bank of New York Mellon Corp now owns 69,806 shares of the bank’s stock worth $2,105,000 after acquiring an additional 3,834 shares during the last quarter. Victory Capital Management Inc. grew its position in shares of Peoples Utah Bancorp by 22.7% during the first quarter. Victory Capital Management Inc. now owns 36,545 shares of the bank’s stock worth $964,000 after acquiring an additional 6,751 shares during the last quarter. Finally, Wedge Capital Management L L P NC grew its position in shares of Peoples Utah Bancorp by 22.1% during the first quarter. Wedge Capital Management L L P NC now owns 28,009 shares of the bank’s stock worth $739,000 after acquiring an additional 5,075 shares during the last quarter. Institutional investors and hedge funds own 37.51% of the company’s stock.

Peoples Utah Bancorp Company Profile

People's Utah Bancorp operates as the bank holding company for People's Intermountain Bank that provides retail and commercial banking products and services. The company accepts various deposits, such as checking, rewards checking, savings, and money market deposit accounts, as well as individual retirement accounts and certificates of deposit.

Further Reading: Overbought

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